GESTYS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GESTYS
Largest movements
- Financial fixed assets -€360,500
down €360,500 (-62.7%), from €575,000 to €214,500
- Receivables within one year +€124,018
up €124,018 (+47.4%), from €261,463 to €385,481
of which Trade receivables: +€65,612
- Cash +€71,626
up €71,626 (+1,285%), from €5,574 to €77,200
mainly Investment in fixed assets (net) (+€359,671) and Debts after one year (+€184,790)
- Receivables after one year +€48,000
new in 2025: €48,000
- Tangible fixed assets -€37,122
down €37,122 (-7.2%), from €516,070 to €478,947
of which Land and buildings: -€36,044
- Short-term financial debts -€300,172
down €300,172 (-51.3%), from €584,775 to €284,603
- Debts after one year +€184,790
up €184,790 (+74.8%), from €246,929 to €431,719
- Other debts -€131,885
down €131,885 (-70.5%), from €187,141 to €55,256
- Reserves +€119,736
up €119,736 (+382%), from €31,371 to €151,107
- Tax, wage and social debts -€42,766
down €42,766 (-38.7%), from €110,639 to €67,874
- Financial income +€122,440
up €122,440 (+637%), from €19,230 to €141,670
- Gross operating margin -€24,197
down €24,197 (-17.1%), from €141,460 to €117,263
- Financial charges -€16,591
down €16,591 (-30.1%), from €55,160 to €38,568
- Taxes +€8,391
up €8,391 (+57.3%), from €14,634 to €23,024
- Depreciation -€3,121
down €3,121 (-7.6%), from €41,305 to €38,184
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,396,297 | €1,229,455 | -€166,842 | -11.9% |
| Formation expenses | 20 | €925 | €692 | -€233 | -25.2% |
| Fixed assets | 21/28 | €1,091,070 | €693,447 | -€397,622 | -36.4% |
| Tangible fixed assets | 22/27 | €516,070 | €478,947 | -€37,122 | -7.2% |
| Land and buildings | 22 | €513,292 | €477,247 | -€36,044 | -7.0% |
| Plant, machinery and equipment | 23 | €197 | - | -€197 | |
| Furniture and vehicles | 24 | €2,581 | €1,700 | -€881 | -34.1% |
| Financial fixed assets | 28 | €575,000 | €214,500 | -€360,500 | -62.7% |
| Current assets | 29/58 | €304,303 | €535,316 | +€231,013 | +75.9% |
| Amounts receivable after more than one year | 29 | - | €48,000 | +€48,000 | |
| Other amounts receivable | 291 | - | €48,000 | +€48,000 | |
| Amounts receivable within one year | 40/41 | €261,463 | €385,481 | +€124,018 | +47.4% |
| Trade receivables | 40 | €68,910 | €134,522 | +€65,612 | +95.2% |
| Other amounts receivable | 41 | €192,553 | €250,959 | +€58,406 | +30.3% |
| Cash at bank and in hand | 54/58 | €5,574 | €77,200 | +€71,626 | +1,285% |
| Deferred charges and accrued income | 490/1 | €37,266 | €24,635 | -€12,631 | -33.9% |
| Total equity and liabilities | 10/49 | €1,396,297 | €1,229,455 | -€166,842 | -11.9% |
| Equity | 10/15 | €187,873 | €311,490 | +€123,617 | +65.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €30,489 | €28,753 | -€1,736 | -5.7% |
| Reserves | 13 | €31,371 | €151,107 | +€119,736 | +382% |
| Distributable reserves | 133 | €31,371 | €151,107 | +€119,736 | +382% |
| Profit (loss) carried forward | 14 | €107,413 | €113,030 | +€5,617 | +5.2% |
| Amounts payable | 17/49 | €1,208,424 | €917,965 | -€290,459 | -24.0% |
| Amounts payable after more than one year | 17 | €246,929 | €431,719 | +€184,790 | +74.8% |
| Financial debts | 170/4 | €246,929 | €431,719 | +€184,790 | +74.8% |
| Amounts payable within one year | 42/48 | €949,948 | €479,454 | -€470,494 | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €48,916 | €50,063 | +€1,147 | +2.3% |
| Financial debts | 43 | €584,775 | €284,603 | -€300,172 | -51.3% |
| Credit institutions | 430/8 | €584,775 | €284,603 | -€300,172 | -51.3% |
| Trade debts | 44 | €18,477 | €21,659 | +€3,182 | +17.2% |
| Suppliers | 440/4 | €18,477 | €21,659 | +€3,182 | +17.2% |
| Taxes, remuneration and social security | 45 | €110,639 | €67,874 | -€42,766 | -38.7% |
| Taxes | 450/3 | €110,639 | €67,874 | -€42,766 | -38.7% |
| Other amounts payable | 47/48 | €187,141 | €55,256 | -€131,885 | -70.5% |
| Accrued charges and deferred income | 492/3 | €11,547 | €6,792 | -€4,755 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,305 | €38,184 | -€3,121 | -7.6% |
| Other operating charges | 640/8 | €8,674 | €9,539 | +€865 | +10.0% |
| Gross operating margin | 9900 | €141,460 | €117,263 | -€24,197 | -17.1% |
| Operating profit (loss) | 9901 | €91,480 | €69,540 | -€21,941 | -24.0% |
| Financial income | 75/76B | €19,230 | €141,670 | +€122,440 | +637% |
| Recurring financial income | 75 | €19,230 | €141,670 | +€122,440 | +637% |
| Financial charges | 65/66B | €55,160 | €38,568 | -€16,591 | -30.1% |
| Recurring financial charges | 65 | €55,160 | €38,568 | -€16,591 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €55,551 | €172,641 | +€117,090 | +211% |
| Income taxes | 67/77 | €14,634 | €23,024 | +€8,391 | +57.3% |
| Profit (loss) for the period | 9904 | €40,917 | €149,617 | +€108,700 | +266% |
| Profit (loss) for the period to be appropriated | 9905 | €40,917 | €149,617 | +€108,700 | +266% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.